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Cork & Vines Fund I LP, a Newport Beach-based private equity fund to support building high-end chef-driven bars, recently secured a $3.5 million capital infusion from financial services firm Beneficient (Nasdaq: BENF).
This brings Cork & Vines, founded last year by Managing Partner JC Clow, up to $14.5 million in investor capital commitments. The fund’s target is $20 million.
Clow is the founding partner of The Winery Restaurant & Wine Bars in Tustin and Newport Beach.
“Beneficient’s involvement is more than a financial commitment – it’s a strategic alignment with our vision of bringing elevated culinary and wine experiences to America’s most discerning markets,” Clow said in a statement. “Their partnership further cements our institutional credibility and accelerates our path to scaling this concept across the Southwest.”
Cork & Vines has an expansion plan that will open eight restaurants in five years and is starting with a flagship location slated for the Stanford Shopping Center in Palo Alto.